Evotec Ag Stock Price, News & Analysis

Just - Evotec Biologics, part of Evotec SE, has opened its J.POD® Toulouse, France (EU) facility, marking a significant milestone in biologics manufacturing. This 15,000 sqm facility is the first of its kind in Europe, utilizing advanced continuous manufacturing technology to provide flexible and cost-effective clinical and commercial biologics production.

The facility was built in just 18 months and can produce up to 2 metric tons of biotherapeutics. It features quality control and process development labs, a warehouse, and collaborative office spaces. The J.POD® technology offers a paradigm shift in biomanufacturing, addressing challenges in scaling from clinical to commercial production.

The project received support from the French government, Occitanie Region, Bpifrance, Haute-Garonne prefecture, and Toulouse Métropole. It aims to make biotherapeutics more accessible worldwide while offering enhanced environmental sustainability.

Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) and X-Chem have announced a collaboration agreement to accelerate early-stage drug discovery. X-Chem will provide access to its DNA-encoded library (DEL) technology, including DELflex and HITMiner, which can screen billions of DNA-tagged compounds simultaneously. This partnership aims to combine X-Chem's DEL technology with Evotec's screening platforms to identify potential drug candidates more efficiently for innovative biological targets.

The collaboration highlights the importance of partnerships in addressing the complexity of drug discovery. Both companies' CEOs expressed enthusiasm about the potential of this collaboration to enhance drug discovery processes and tackle challenging biological targets.

Evotec SE (Frankfurt Stock Exchange: EVT, NASDAQ: EVO) announced that Dr Matthias Evers, Chief Business Officer, will step down effective 01 October 2024 to pursue opportunities outside the company. Evers, appointed on 01 May 2022, played a important role in establishing Evotec's biologics segment Just - Evotec Biologics and aiding the company's recovery from a cyber-attack. The Supervisory Board expressed gratitude for his contributions during challenging times.

Following Evers' departure, the responsibilities of the CBO function will be distributed across other Management Board functions. Dr Christian Wojczewski, CEO of Evotec, thanked Evers for his commitment and leadership, particularly highlighting his support during the transition period.

Evotec SE reported challenging H1 2024 results, with revenues down 7% year-on-year in Shared R&D Services. Just - Evotec Biologics showed strong growth with a 50% revenue increase. The company is implementing a priority reset for sustainable profitable growth, aiming for annualized savings of at least €40m in 2025. Key points include:

- Group revenues increased by 2% to €390.8m
- Adjusted Group EBITDA totaled €(0.5)m, impacted by high fixed costs
- New collaborations signed with various partners
- Dr Christian Wojczewski took over as CEO on July 1, 2024
- Headcount reduction of approximately 400 roles planned
- Full-year 2024 outlook: revenues expected €790-820m, adjusted EBITDA €15-35m

Evotec SE (Frankfurt Stock Exchange: EVT, NASDAQ: EVO) announced significant progress in its strategic partnership with Bristol Myers Squibb focused on developing molecular glue degraders. The collaboration, initiated in 2018 and expanded in 2022, has triggered performance-based and programme-based payments totaling US$ 75 million to Evotec. This partnership combines Evotec's multi-omics screening capabilities with Bristol Myers Squibb's library of cereblon E3 ligase modulators (CELMoDs™) to identify novel molecular glue degraders for oncology and other fields.

Dr. Cord Dohrmann, Evotec's Chief Scientific Officer, highlighted the growing pipeline of molecular degraders addressing high-value targets, emphasizing the potential to deliver multiple first-in-class products to the market. The collaboration's success underscores Evotec's progress in this emerging therapeutic modality.

Evotec SE announced significant progress in its strategic neuroscience partnership with Bristol Myers Squibb, resulting in a US$ 25 million payment to Evotec for further research advancement. The collaboration, initiated in December 2016, aims to develop disease-modifying treatments for neurodegenerative diseases. Evotec's PanOmics platform, combined with patient-derived disease models, has been instrumental in generating a promising pipeline of discovery to clinical-stage programmes.

A key milestone was reached with the in-licensing of EVT8683 (now BMS-986419) by Bristol Myers Squibb in September 2021. The partnership was extended for an additional 8 years in March 2023. Dr. Cord Dohrmann, Evotec's CSO, highlighted the productive nature of the collaboration and expressed excitement about advancing another programme towards clinical development in 2026.

Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, NASDAQ: EVO) has announced it will release its financial results for the first half-year of 2024 on Wednesday, 14 August 2024. The company will host a conference call and webcast to discuss the results and provide a performance update. The event will be conducted in English.

Key details:

• Webcast: 14 August 2024, 2:00 pm CEST (1:00 pm BST, 8:00 am EDT)
• Conference call: Pre-registration required
• Slide presentation available for phone participants
• On-demand version will be accessible on Evotec's website

Evotec SE has updated its guidance for fiscal year 2024, reflecting challenges in the first half of the year. The company now expects:

• Revenues of €790-820 million (low to mid-single-digit percentage growth)
• R&D expenditures of €50-60 million (low double-digit percentage reduction)
• Adjusted EBITDA of €15-35 million (mid-double-digit percentage reduction)

The Shared R&D segment faced a challenging environment, while Just - Evotec Biologics saw mid-double-digit revenue growth. The company is implementing measures to reset operational priorities, focusing on sustainable profitable growth and right-sizing its business. Annualized recurring benefits on adjusted EBITDA are expected to exceed €40 million. Evotec is evaluating additional strategic steps and developing a new mid-range plan.

Evotec SE (NASDAQ: EVO) has updated its fiscal year 2024 guidance. The company now expects:

• Group revenues of €790-820 million (low to mid-single-digit percentage growth, down from previous low double-digit growth)
• R&D expenditures of €50-60 million (low double-digit percentage reduction)
• Adjusted EBITDA of €15-35 million (mid double-digit percentage reduction, down from previous mid double-digit growth)

The guidance revision is due to slower sales order conversion and continued margin pressure from high fixed costs. Evotec is implementing actions to transform the business towards sustainable profitable growth.